The past week has seen many changes to rates. We detail the changes in this story here which includes a table showing which lenders moved rates and by how much. The best news for borrowers is that a couple of banks dropped floating rates. The bad news is longer-term rates have risen sharply and now no longer look like being such good deals. Perhaps the bigger talking point is the huge variation which now showing between the OCR and longer term rates. We have illustrated it well in this graph. No doubt it will add fuel to the debate over bank margins.
BNZ has also created news this week with the revelation that it is getting rid of all its mobile managers. We look at what this means for borrowers in this Blog: Bank continues unusual behaviour.
